Lease terms were not disclosed; asking rents for comparable properties in the Grand Central district range from the low- to high-$50s per square foot. UGL Equis' Greg Espach, who led the team representing the commonwealth, says in a release that the renewal "comes at a signal moment in today's real estate market to reduce occupancy costs and secure the long-term presence of the mission and consulate."
Espach led negotiations on the commonwealth's behalf with UGL's Daniel Nack. UGL's Dirk Hrobsky and Chris Helgesen provided executive oversight in representing the tenant. A CB Richard Ellis team of Edward Goldman, Scott Gottlieb and Rocco Laginestra represented Hiro.
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